MSC Industrial Direct Co Inc (NYSE:MSM) – Stock analysts at Northcoast Research upped their Q3 2018 earnings per share estimates for MSC Industrial Direct in a research note issued to investors on Thursday. Northcoast Research analyst R. Cieslak now forecasts that the industrial products company will post earnings of $1.46 per share for the quarter, up from their previous forecast of $1.28. Northcoast Research currently has a “Buy” rating on the stock. Northcoast Research also issued estimates for MSC Industrial Direct’s Q4 2018 earnings at $1.39 EPS.
A number of other brokerages also recently weighed in on MSM. Susquehanna Bancshares assumed coverage on shares of MSC Industrial Direct in a report on Monday, September 25th. They issued a “neutral” rating and a $77.00 price target for the company. KeyCorp reissued a “hold” rating on shares of MSC Industrial Direct in a report on Tuesday, October 17th. BMO Capital Markets reissued a “market perform” rating and issued a $83.00 price target (up from $79.00) on shares of MSC Industrial Direct in a report on Monday, October 9th. Gabelli raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $94.00 price target for the company in a report on Friday, October 13th. Finally, Stephens set a $114.00 price target on shares of MSC Industrial Direct and gave the company a “buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $95.54.
MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Wednesday, January 10th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.01). The firm had revenue of $768.60 million for the quarter, compared to the consensus estimate of $770.95 million. MSC Industrial Direct had a return on equity of 19.37% and a net margin of 7.97%. MSC Industrial Direct’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.95 earnings per share.
Several hedge funds have recently made changes to their positions in MSM. American Century Companies Inc. raised its stake in shares of MSC Industrial Direct by 1,889.6% in the 3rd quarter. American Century Companies Inc. now owns 2,099,225 shares of the industrial products company’s stock valued at $158,638,000 after buying an additional 1,993,717 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of MSC Industrial Direct by 105.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,179,178 shares of the industrial products company’s stock valued at $89,112,000 after buying an additional 604,873 shares in the last quarter. Schroder Investment Management Group raised its stake in shares of MSC Industrial Direct by 52.7% in the 3rd quarter. Schroder Investment Management Group now owns 964,486 shares of the industrial products company’s stock valued at $72,250,000 after buying an additional 332,893 shares in the last quarter. Koch Industries Inc. raised its stake in shares of MSC Industrial Direct by 10,738.5% in the 2nd quarter. Koch Industries Inc. now owns 284,620 shares of the industrial products company’s stock valued at $281,000 after buying an additional 281,994 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of MSC Industrial Direct by 126.7% in the 3rd quarter. Principal Financial Group Inc. now owns 441,321 shares of the industrial products company’s stock valued at $33,350,000 after buying an additional 246,659 shares in the last quarter. Institutional investors own 75.55% of the company’s stock.
In other news, EVP Steven N. Baruch sold 5,762 shares of the stock in a transaction on Monday, November 20th. The shares were sold at an average price of $81.25, for a total value of $468,162.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mitchell Jacobson sold 13,582 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $81.91, for a total transaction of $1,112,501.62. The disclosure for this sale can be found here. In the last 90 days, insiders sold 237,587 shares of company stock valued at $19,390,269. Corporate insiders own 31.28% of the company’s stock.
MSC Industrial Direct declared that its Board of Directors has initiated a share repurchase plan on Wednesday, January 10th that allows the company to repurchase 2,000,000 shares. This repurchase authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Tuesday, January 16th will be issued a $0.58 dividend. The ex-dividend date of this dividend is Friday, January 12th. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.48. This represents a $2.32 dividend on an annualized basis and a yield of 2.45%. MSC Industrial Direct’s dividend payout ratio is 46.38%.
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MSC Industrial Direct Company Profile
MSC Industrial Direct Co, Inc is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The Company’s range of MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components and electrical supplies.
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